Evening Currency Update - April 5, 2022 - Kotak Securities

Anindya Banerjee, VP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities Ltd

USDINR spot closed 22 paise lower at 75.32, lowest levels since Feb28th. Exporter selling and lumpy corporates were major drivers of Rupee appreciation. With oil prices stable, Rupee is seeing some FPI inflows as well. Over this week there are two major events: US FOMC minutes tomorrow night and then on Friday is RBI. We could see volatility increasing during the second half of this week. We expect a range of 75.00 and 75.80 on spot, over the near term.

Source : Equity Bulls

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